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A. C. Michalos' “Postulates of Rational Preference”
Published online by Cambridge University Press: 14 March 2022
Extract
In an article in this journal [2], A. C. Michalos, while arguing for the normative and empirical inadequacy of the Von Neumann and Morgenstern (N-M) postulates of rational preference, completely misconstrued the concept of simple additivity contained in the (independence) postulates. As a result, the following argument is a non-sequitur.
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